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for business and he is he is isly during a fragile economic recovery. economist steve moore will be joining us in just a moment. heather: plus one side already claiming victory in egypt's controversial new constitution fight. the latest news coming out of cairo. that is coming up. to the best vacation spot on earth. (all) the gulf! it doesn't matter which of our great states folks visit. mississippi, alabam louisiana or florida, they're gonna love it. shaul, your alabama hospitality is incredible. thanks, karen. love your mississippi outdoors. i vote for your florida beaches, dawn. bill, this louisiana seafood is delicious. we're having such a great year on the gulf, we've decided to put aside our rivalry. now is the perfect time to visit anyone of our states. the beaches and waters couldn't be more beautiful. take a boat ride, go fishing or just lay in the sun. we've got coastline to explore and wildlife to photograph. and there's world class dining with our world famous seafood. so for a great vacation this year, come to the gulf. its all fabulous but i give florida the edge. right after mis
sustain the one-two punch is anybody's question. patti ann: joining us now is steve moore from the "wall street journal." hopefully he can give us some answers. good morning, steve. what is the most immediate impact in we go over the cliff? >> we are talking about january 2nd taxing rising on over a hundred million americans. this is a big sock to the wallet of americans of every income group. let's just talk about the middle class for a minute. for those earning about 45 to 75,000 a year they are looking at paying somewhere in the neighborhood of $2,500 a year more in taxes. it's not just the warn buffets and bill gates that will be hit by tax increases. the other part of the cliff that we don't talk that much about is the automatic spending cuts would take effect starting on january 2nd, an 8% reduction in major spending categories, national defense, many of what we call the domestic discretionary programs would also be hit. this is a big fiscal wallop to the economy and a lot of economists believe it could cause a double-dip recession. patti ann: on the other hand we are hearing from
with demi moore. her husband, ashton kutcher recently filed for divorce even though they've been separated for some time. that surprised her? >> yes. it was a year since they split. you know, it's been a very rocky year for demi moore. she turned 50, sources say she's really unhappy about aging and you can see that ashton wasn't the only young guy in her life. she's chased after voito schnabel. most disturbingly -- here she is partying away with stacey keebler who is 33. >> wasn't she running around like a little cat. >> that was kim kardashian maybe. >> demi, she's become estranged from her three daughters, especially her middle daughter, scout. she really has a very tough relationship with those girls right now. she even sat apart from them at the oldest -- youngest one's graduation earlier this year. demi's having a very hard time. >> let's hope she gets it together in 2013. meanwhile, let's talk a little bit about what you're calling the twilight cheating scandal. >> it wasn't just me calling it but "us weekly" did call that story, the biggest story of the year. we ran photos in the ma
? joining me now, senior economics writer or for "the wall street journal" steve moore. steve, thanks for making it in today. >> hi, jamie. we're having a white christmas in chicago. so it is a lot of fun. jamie: i know chicago, burr. the numbers are also pretty chilling for retailers who do what percentage of their business during the holiday season? >> you know, those months of november and december are absolutely crucial, jamie, for the retailers. about 40 to all their business all year is done in those two holiday months. so it's, not very good news that the retail numbers came in, you called them lackluster. and that's probably putting it charitiably. this was the worst year since 2008. it is actually, surprising, jamie, because if you look at some other indicators, consumer confidence had actually bumped up a little bit in the last couple months. we have, i wouldn't read too much into this because other indicators of the economy are looking up right now. jamie: so do you think it's an anomaly that it isn't going up? is it an indication if we go over the fiscal cliff there's conc
Search Results 0 to 3 of about 4